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Tauranga port annual profit up 1pc to US$52.8 million, revenue flattens
NEW ZEALAND's Port of Tauranga's profit was up one per cent to $79.1 million (US$52.8 million) in the 12 months ending on June 30, drawn on revenues of $268.5 million, an increase of 0.75 per cent year on year.
Log exports, which drove growth in 2014, declined, leaving total outbound volumes unchanged, stalling revenue growth.
New Zealand's biggest port for commodity exports such as dairy products and logs, has extended its reach across the nation, aiming to become the pre-eminent hub serving what is expected to be fewer visits by larger ships in the future.
The port awarded a contract to deepen the Tauranga harbour channel to allow 6,500-TEU ships and extended its relationship with Kotahi, the logistics group owned by Fonterra and Silver Fern Farms, in a new joint venture called Coda that will move containers and bulk cargo to and from ports and freight hubs.
Ports of Auckland also announced plans to open a freight hub in the Bay of Plenty, near its rival's centre of operations, in a deal with logistics firm Toll Holdings and land owner Triton Pacific.
In the latest year, the number of containers crossing Tauranga's wharves rose 12 per cent to 851,106 TEU, which the company said was helped by its relationship with Kotahi under which agreed volumes of containers were delivered.
Total export volumes were unchanged at 13.3 million tonnes "with strong rises in dairy commodities, meat, kiwifruit and general freight offsetting falls in logs, sawn timber, apples, onions and steel", the company said.
Imports increased eight per cent to 6.9 million tonnes, driven by a 55 per cent jump in cement to 165,503 tonnes, which the company said reflected the strength of the local construction industry.
Car volumes more than doubled to 11,607 units. General cargo rose 22 per cent to 3.2 million tonnes, although imports of grain fell 13 per cent, bulk liquids dropped six per cent and coal imports tumbled almost 100 per cent, which it attributed to a decline in thermal coal generation.
Log exports, which drove growth in 2014, declined, leaving total outbound volumes unchanged, stalling revenue growth.
New Zealand's biggest port for commodity exports such as dairy products and logs, has extended its reach across the nation, aiming to become the pre-eminent hub serving what is expected to be fewer visits by larger ships in the future.
The port awarded a contract to deepen the Tauranga harbour channel to allow 6,500-TEU ships and extended its relationship with Kotahi, the logistics group owned by Fonterra and Silver Fern Farms, in a new joint venture called Coda that will move containers and bulk cargo to and from ports and freight hubs.
Ports of Auckland also announced plans to open a freight hub in the Bay of Plenty, near its rival's centre of operations, in a deal with logistics firm Toll Holdings and land owner Triton Pacific.
In the latest year, the number of containers crossing Tauranga's wharves rose 12 per cent to 851,106 TEU, which the company said was helped by its relationship with Kotahi under which agreed volumes of containers were delivered.
Total export volumes were unchanged at 13.3 million tonnes "with strong rises in dairy commodities, meat, kiwifruit and general freight offsetting falls in logs, sawn timber, apples, onions and steel", the company said.
Imports increased eight per cent to 6.9 million tonnes, driven by a 55 per cent jump in cement to 165,503 tonnes, which the company said reflected the strength of the local construction industry.
Car volumes more than doubled to 11,607 units. General cargo rose 22 per cent to 3.2 million tonnes, although imports of grain fell 13 per cent, bulk liquids dropped six per cent and coal imports tumbled almost 100 per cent, which it attributed to a decline in thermal coal generation.
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